Publishing giant Elsevier has acquired Mendeley, a London-based startup that provides social collaboration tools for academics and researchers. The deal was confirmed on Monday after rumors of the transaction leaked months ago, and The Financial Times reports that the buyer has forked over £45 million ($68.85 million) for the London-based startup.
A rising star of the open science and crowdsourcing movements, Mendeley provides free and paid apps that let researchers and scientists share, store and organize content such as journal articles in PDF files. Millions of users have come to depend on the company's apps to cull the most relevant items from the sea of research info online. Some advocates for open science criticized the sale to Elsevier, skeptical that the scientific publisher would support the mission of Mendeley to make research information widely accessible and social.